Is it legal for an individual to create a crypto currency in the US?

[TheGodson]

I live in the US. If I was to build my own crypto currency would this be illegal? I have a great idea, but I'm not entirely sure it is legal. Actually I have a lot of good ideas that end up being illegal someway. For some reason though, other organizations are allowed to do these things that I'm not allowed to do. I mean, all these other people make these altcoins, but don't face any legal trouble. What makes them immune from legal trouble?

[Don Pedro Dinero]

As far as I know, only States have the right to issue currencies. In my country to create a currency is a very serious matter that can take you to prison for many years and I don’t think my country is an exception. Why do you think Satoshi Nakamoto is an anonymous person? This is at least one of the reasons. If you are seriously thinking of creating a currency do a very deep research on legality about this on your country.

[gentlemand]

The sensible developers remain anonymous just in case, but I think it depends on the definition of currency. As a pure guess the US government probably regards crypto as a tradable asset and there are no rules about creating them.

The creator of ETH travels to the US happily enough and there's never been any talk of him having broken any law. No one's claiming they're legal tender. They're voluntarily awarded value.

The most obvious case of someone actually being prosecuted for creating a currency in the US is this - https://en.wikipedia.org/wiki/Liberty_dollar_(private_currency)

[veleten]

As far as I know, only States have the right to issue currencies. In my country to create a currency is a very serious matter that can take you to prison for many years and I don’t think my country is an exception. Why do you think Satoshi Nakamoto is an anonymous person? This is at least one of the reasons. If you are seriously thinking of creating a currency do a very deep research on legality about this on your country.

you will be surprised... the US as a state DOESN'T issue currency
Central Bank(s) both in the US and around the world issue currencies,central banks have monopoly over issuing currency(fiat money) and recieving seigniorage (https://en.wikipedia.org/wiki/Seigniorage)
they regulate the production of currency by banks (credit) through monetary policy
in the US Federal Reserve System or FRS is a "country within a country"-not controlled by any legislative branch at all
and yes,stealing the right for seigniorage is the worst offense ever,worse than mass genocide,wars have been started for less

[iamTom123]

I live in the US. If I was to build my own crypto currency would this be illegal? I have a great idea, but I'm not entirely sure it is legal. Actually I have a lot of good ideas that end up being illegal someway. For some reason though, other organizations are allowed to do these things that I'm not allowed to do. I mean, all these other people make these altcoins, but don't face any legal trouble. What makes them immune from legal trouble?

No, you can create your own digital currency in United States of America but in issuing tokens or coins your project has to pass a certain test so it won't be classified as a security. Once it can be evaluated as a security you need to pass strict requirements as mandated by the laws governing securities and this is why there are many US-based cryptos but not accepting investors or buyers from the US itself.

Now, if am living in the United States and I love introducing my own version of cryptocurrency, I would based my operation somewhere outside of the country by linking with like-minded people in creating a team (this can easily be done these days). There are so many choices and alternatives once there is a will and a vision to carry out the plans.